Ukraine. Kernel enters into US$200 million credit facility

20.10.2017

Kernel Holding S.A. announced this week that as of 16 October 2017, the company entered into pre-export credit facility with a syndicate of European banks. The three-year secured revolving facility with a limit of US$ 200 million will be used by the company to fund the working capital needs of its sunflower oil production business in Ukraine.

Kernel is a leading diversified agribusiness company in the Black Sea region listed on the Warsaw Stock Exchange. Handling about 7 million tons of agricultural commodities per year, Kernel supplies international markets with grain and sunflower oil produced in Ukraine and Russia, reports UkrAgroConsult.

Kernel intends to expand its crushing capacity by constructing the largest and the most efficient multi-seed processing plant in Ukraine. The construction site is in the western part of the country, near Starokonstiantyniv in Khmelnytskyi region, next door to Kernel’s silo. The installed processing capacity of the plant will be 1 MMT of sunflower seeds per year with investments of around USD 130 million. The project will be financed from the Eurobond proceeds raised in 2017. The commissioning of the plant is scheduled for 2020.

 

UkrAgroConsult

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